You can complete this course in 54 months or less.

Level 2

Unit 1 – Introduction to Bookkeeping

You will learn about manual and digital bookkeeping systems, including the associated documents and processes. You will learn the basic principles that underpin the double-entry system and see how some processes are being automated.

• Understand how to set up bookkeeping systems
• Process customer transactions
• Process supplier transactions
• Process receipts and payments
• Process transactions into the ledger accounts

Unit 2 – Principles of Bookkeeping Controls

Builds on your knowledge and skills from Introduction to Bookkeeping, and explore control accounts, journals and reconciliations. You will go through the processes used in bookkeeping that verify and validate the entries. These processes help you understand the purpose of control accounts and associated reconciliations. You will also understand the use of the journal to the point of redrafting the trial balance, following initial adjustments.

• Use control accounts
• Reconcile a bank statement with the cash book
• Use the journal
• Produce trial balances

Unit 3 – Principles of Costing

You will be introduced to the principles of basic costing and build a solid foundation in the knowledge and skills for more complex costing and management accounting.

You will learn the importance of the costing system as a source of information that allows management to plan, make decisions and control costs. You should recognise the key differences from a business perspective between costing and financial accounting.

• Understand the cost recording system within an organisation
• Use cost recording techniques
• Provide information on actual and budgeted costs and income
• Use tools and techniques to support cost calculations

Unit 4 – The Business Environment

The business environment is dynamic and changes constantly. You will need to understand the impact this environment has on organisations, from sole traders to large companies operating in local, national and global markets.

• Understand the principles of contract law
• Understand the external business environment
• Understand key principles of corporate social responsibility (CSR), ethics and sustainability
• Understand the impact of setting up different types of business entity
• Understand the finance function within an organisation
• Produce work in appropriate formats and communicate effectively
• Understand the importance of information to business operations

Level 3

Unit 1 – Business Awareness

You will gain an understanding of the business, its environment and its influence on an organisation’s structure. You will also learn the role of its accounting function and its performance.

• Understand business types, structures and governance, and the legal framework in which they operate
• Understand the impact of the external and internal environment on businesses, their performance and decisions
• Understand how businesses and accountants comply with principles of professional ethics
• Understand the impact of new technologies in accounting and the risks associated with data security
• Communicate information to stakeholders

Unit 2 – Financial Accounting: Preparing Financial Statements

You will gain the skills to produce statements of profit or loss, statements of financial position for sole traders, and partnerships using a trial balance. In your job, you may be required to prepare the final accounts and this unit will give you the theoretical knowledge needed to do this.

It will also allow you to understand how final accounts are produced, either manually or by using accounting software.

• Understand the accounting principles underlying final accounts preparation
• Understand the principles of advanced double-entry bookkeeping
• Implement procedures for the acquisition and disposal of non-current assets
• Prepare and record depreciation calculations
• Record period end adjustments
• Produce and extend the trial balance
• Produce financial statements for sole traders and partnerships
• Interpret financial statements using profitability ratios
• Prepare accounting records from incomplete information

Unit 3 – Management Accounting Techniques

You will learn about the role of management accounting and how organisations use this information to make decisions.

• Understand the purpose and use of management accounting within organisations
• Use techniques required for dealing with costs
• Attribute costs according to organisational requirements
• Investigate deviations from budgets
• Use spreadsheet techniques to provide management accounting information
• Use management accounting techniques to support short-term decision making
• Understand principles of cash management

Unit 4 – Tax Processes for Businesses

This unit explores tax processes that influence the daily operations of businesses. It helps you develop skills in understanding, preparing, and submitting value-added tax (VAT) returns to HM Revenue & Customs (HMRC).

You will gain the knowledge and skills to keep businesses compliant with laws and practices that apply to VAT and payroll. You will learn about legislation and the importance of maintaining technical knowledge by monitoring updates.

• Understand legislation requirements relating to VAT
• Calculate VAT
• Complete VAT returns
• Understand principles of payroll
• Report information within the organisation

Level 4 (L4PAT)

Financial Accounting

You will gain the skills and knowledge to draft the financial statements of single limited companies, including the statement of profit or loss, statement of financial position, statement of changes in equity and statement of cash flows.

You will become proficient in your knowledge and understanding of international accounting standards. You will apply this when you draft the financial statements. You will also understand the regulatory and conceptual frameworks that underpin the preparation of limited company financial statements, and how to interpret them using ratio analysis.

• Understand the reporting frameworks that underpin financial reporting
• Understand the accounting process
• Understand accounting standards for non-current assets and other areas
• Prepare financial statements for limited companies
• Interpret financial statements using ratio analysis

Management Accounting

This unit covers the key areas of planning, control, decision-making and liquidity management.

All organisations need accurate, business-focused information to make sound judgements. This unit will allow you to understand the budgetary process. You will be able to construct budgets and identify and report both on areas of success and on areas of concern. You will also gain the skills to critically evaluate organisational performance and manage an organisation’s liquidity.

• Understand and implement the organisational planning process
• Use cost and management accounting techniques to aid control
• Use techniques to aid short-term and long-term decision making
• Understand and manage organisational liquidity

Audit and Internal Controls

All organisations must guard against fraud through good control systems. But many businesses underestimate the probability and impact of employee fraud. This unit shows you how internal controls help identify and mitigate fraud risk, and gives you an awareness of the audit process from planning and risk assessment through to the completion and production of the audit report.

• Understand the role of internal controls within an organisation
• Understand the audit and assurance framework
• Understand the planning and risk assessment process for audit engagements
• Evaluate internal control systems as part of the audit process
• Understand procedures for obtaining sufficient and appropriate evidence
• Review and report findings

Principles of Taxation

This unit introduces you to taxation for UK taxpayers, including income from employment, self-employment, property and investments. You will learn to calculate Income Tax, National Insurance contributions, Capital Gains Tax, and Corporation Tax for companies.

• Understand the UK tax system and ethical behaviour
• Calculate Income Tax and National Insurance contributions
• Identify types of income
• Calculate Capital Gains Tax payable by UK taxpayers
• Prepare tax computations for trading companies
• Understand administrative requirements of the UK’s tax regime and tax planning opportunities

Advanced Business Awareness

A brand new unit for the L4PAT syllabus, with no equivalent under the previous qualification. This unit prepares you for real-world challenges in the business environment, covering business strategy and decision-making, data analytics, professional ethics, and sustainable business practices.

• Understand business decision making
• Understand organisational effectiveness
• Understand ethics and law in an accounting environment
• Understand the effective use of data in business
• Understand the importance of sustainability in business

There are no prerequisites, but you need to have a good understanding of the English language.

If you have any questions please contact us.